The currebt downturn seems to be related to the price cuts in china and muted response to the cyber truck.
And there has been no change in the beta status of the autopilot program. Mr Musk has been optimistic about the timeline of autopilot for a while, but it seems to be still far away.
Tesla still seems to make high quality EVs, BYD and similar brands altough are catching up in quality, their battery technology seems to still be inferior to tesla. So tesla is a superior brand in EVs.
But the 200-300$ price valuation is highly linked to the auto pilot and a little to the $20,000 mass market car. From the mockups it seems the $20k car has 2 sears and 3 wheels. This is definitely less value for money in the developing world such as India. But if they are able to compete with Hyundai i20 or i40 at $20k in India and other such economies then they will grow even quicker.
With microsofts investments in OpenAi it seems like artificial intelligence is on its way, either in 2 years or 10. Amd tesla has been investing in artificial intelligence for many years now.
So, if you would like to bet on AI, then only investing in Tesla makes sense.
But if you want to park your cash for next few months for a quick increment then, other alternatives should be considered.
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